系统管理学报

系统管理学报 ›› 2026, Vol. 35 ›› Issue (1): 278-294.DOI: 10.3969/j.issn.2097-4558.2026.01.020

• 企业管理与公司金融 • 上一篇    

CEO开放性影响企业韧性的效果与边界

刘莉1，扈文秀1，王芳云1，李苗2   

  1. 1. 西安理工大学 经济与管理学院，西安 710054；2. 西安外国语大学 经济金融学院，西安 710128
  • 收稿日期:2024-05-10 修回日期:2024-11-19 出版日期:2026-01-28 发布日期:2026-02-12
  • 基金资助:
    陕西省哲学社会科学领军人才特支计划项目（2020063005SX）；陕西省社会科学基金资助项目（2023D046）；陕西省自然科学基础研究计划项目（2024JC-YBQN-0764）

Effects and Boundaries of CEO Openness on Corporate Resilience

LIU Li1, HU Wenxiu1, WANG Fangyun1, LI Miao2   

  1. 1. School of Economics and Management, Xi’an University of Technology, Xi’an 710054, China; 2. School of Economics and Finance, Xi’an International Studies University, Xi’an 710128, China
  • Received:2024-05-10 Revised:2024-11-19 Online:2026-01-28 Published:2026-02-12

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摘要： 在VUCA环境下，企业韧性对于企业生存与发展的重要性已提升至新的高度。作为企业的核心领导者，CEO在企业韧性的构建与提升中起着关键作用。本文以2008~2022年中国非金融类上市公司为样本，实证考察了CEO开放性对企业韧性的影响。结果显示，CEO开放性对企业韧性具有显著正向影响。该结论在经过一系列内生性检验与稳健性检验后依然成立。调节效应分析表明，CEO持股与行业竞争强度均会增强CEO开放性对企业韧性的正向影响。进一步的异质性分析发现，CEO开放性对企业韧性的提升作用在非国有企业、高科技企业以及内部控制质量较高的企业中更为突出。本研究不仅丰富了企业韧性影响因素及CEO开放性经济后果的相关文献，也为企业选聘CEO与提升自身韧性提供了理论依据与实证参考。

关键词: CEO开放性, 企业韧性, CEO持股, 行业竞争强度, 调节效应

Abstract: In a VUCA environment, the importance of corporate resilience for firm survival and development has risen an unprecedented height. CEOs, as the core leaders of enterprises, play a key role in enhancing corporate resilience. This paper examines the effect of CEO openness on corporate resilience using a sample of Chinese non-financial listed companies from 2008 to 2022. The results show that CEO openness has a significant positive effect on corporate resilience. This core conclusion remains robust after a series of endogeneity and robustness tests. Moderation analyses indicate that both CEO shareholding and industry competition intensity strengthen the positive effect of CEO openness on corporate resilience. Further analyses reveal that the resilience-enhancing effect of CEO openness is more pronounced in non-state-owned enterprises, high-tech enterprises, and enterprises with higher-quality internal controls. These findings enrich the relevant literature on the determinants of corporate resilience and the economic consequences of CEO openness, while also providing theoretical foundations and empirical evidence to guide CEO selection and enhance corporate resilience.

Key words: CEO openness, corporate resilience, CEO shareholding, industry competition intensity, moderating effect

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